Talk to a good lawyer and CPA who work with real estate investors and understand the regulation.The final publication of the regulation should be posted in the Federal Registry soon.

Appreciation and upcoming neighborhoods, while the city expands towards that location I'm looking for property plays an important factor and things I consider when investing (future highway projects, future shopping centers, overall city or federal funds invested in that location, etc).  

Please note we are located in Pennsylvania, though this issue is at a federal level.  

@Brandon EllisThere are major limitations in coverage under the Federal Flood Insurance program that may affect your decision. 

If that was my only commitment, I doubt I could 100% comply with all state and federal laws and rules. 

My lease states that the tenant must comply with local, state and federal law and in this case if weed is illegal then you could file a Notice to Quit.

You want to be sure you are in compliance with all local and federal fair housing laws.

It may not fit your individual definition of 'little to no risk', but the income is not taxed by the federal government.Depending on what you want the money for in the future, have you considered a retirement account or a 529 account?

Ck with your local federal credit unions there the easiest work with. 

Check federal and state laws on lending and licensing.